Category: Brokers

The concept of a Forex introducing Broker (IB) is relatively new to some. What a lot of people should realize is the fact that they are really useful when it comes to investing for beginners. An IB—especially a Forex IB—is a pretty good fit for those that are still trying to get settled or learn more about investing.

Let us explain why.

Direct Client Relations

A Forex Introducing Broker deals directly with clients. They aren’t just some voice that you can hear on the phone or left as an email in your inbox. They are real people in the flesh that sit down with you and hear out your goals and misgivings about investing at this time or not.

Direct client relations are best for beginners as this gives them the human interaction and immediate assurance of presence.

Partner Not Employee

A lot of people tend to speak badly of brokers because they think that they are the boss or are given the false impression that the broker is at their beck and call. People who are aiming to invest but are new at it will need a partner rather than feeling they need to be the one to call the shots.

A Forex IB is a good partner for beginners and helps them better understand the lay of the land.

Platform Assistance

If you have ever tried to call into your broker to ask them a question about MT4 or another platform then you know how difficult it can be to get a hold of someone who is actually willing to help. Forex brokers are not generally known for their ability to assist Forex trading when it comes to Forex trading platform related questions. They typically just refer them to Google or somewhere else to seek the answers they are looking for. A Forex introducing Broker that specializes in platforms can assist though. There are Forex introducing brokers available that will assist you in installing your Expert Advisors, figuring out platform related issues, and so on and so forth.

When you’re itching to cut yourself a slice of the Forex market pie, it is always important to know that you don’t have to tackle it alone. Specifically, Forex brokers can really prove to be an invaluable aid to your goals.

However, this isn’t to say that Forex brokers come in a single type. There are different sort of Forex brokers out there, such as a Forex Introducing Broker or Stock Broker. It is important to note what type of broker you’re getting because you may experience varying things. Things like:

Services

The services that you can get will vary in accordance to the type of broker you get. Usually, when you just get a general investment broker, you will do all your interaction via phone and they do not personally do the trading on your behalf—their firm’s floor manager will do that.

If you want something that’s a bit more personal so that you can really pick the mind of the person who is supposed to be helping you, familiarizing yourself with the different broker types can help.

Trading Platforms

Just like there are hundreds, if not thousands of Stock and Forex brokers, there are hundreds of Forex trading platforms. Each broker is going to have unique trading platforms that they offer. It is important that you find a broker that has the best Forex trading platforms available. Because there are so many platforms to choose from this can be difficult. You have MT4, MT5, TradingView, fxTrade, and the list goes on and on. If you use an introducing broker though they will be able to help guide you in the right direction and help you find the best trading platform for your trading style and experience level.

Experience

In the land of Forex markets, experience is everything. Depending on the type of broker that you get, you can end up with someone who has never stepped on the trading floor at all. The type of broker you choose can have you coming across people with varying degrees of actual experience with trading.

If you want to make money, would you go with a complete rookie or someone who’s been battle tested?

Always remember that the type of broker that you choose can significantly affect your overall experience with Forex trading.

Newsletter

Our Location

489 Dancing Dove Lane, New York, NY 10013
909-806-9986

About Stock Market Beat

We are a financial advisory firm that deals with a wide array of earning and investment options. It is our goal to help our client better sail through the seas of the stock market and obtain financial freedom.